I have a 1.1 Panda - and it's ace! I bought it a couple of years ago with only 7,000 miles on the clock. It's just shy of 60,000 now and so far I've changed oil, spark plugs and tyres, and that's it. I do a 120+ mile commute during the week and it doesn't get much use at the weekend. I get low to mid 40's in fuel consumption, and I don't particularly drive with economy in mind. I'm pretty sure I could push this up with some more 'careful' driving.
It's pretty basic motoring - the seat position isn't for everyone (my wife hates the way your foot ends up on the accelerator pedal, but I went through an old Punto which was exactly the same, so hasn't bothered me). It's noisy at speed, it rolls like a ship in a storm and the road holding is as good as the cheap tyres I put on it (£120 for all four tyres the last time I changed the set). It tends to wear the front tyres excessively on the inner edge, but only when you use the 'city' button. I left that on for ages and the tyre wear went through the roof - this set (of identical tyres) with no geometry changes - had it checked every time, has been fine.
I really like it - on windy roads you can drive nearer the edge going slowly (so it all comes back and doesn't land you in a ditch backwards). It worked brilliantly in the snow - I just drove up and down hills that loads of others didn't. Think that might be to do with the weight (NOTHING to do with the tyres, because they were the crappest cheapest tyres I could get).
Spark plugs are nice and accessible, oil is easy to change (and barely holds 2.5ltrs), oil consumption has been fine, insurance is cheap (group 1) and tax is 30 quid a year.
All in all, it's turned out really cost effective

The bad bits are...
- seats, comfortable enough, but the fixed, hard headrest is quite annoying
- seat is only adustable backwards and forwards - no height/rake in base - obviously the back tilts back/forth.
- city button chews tyres if left switched on
- power. It's gutless past 20mph, but as long as you're not on a mission to break land speed it'll pull itself up to 85mph (on private roads, of course)
- torque. It's got none. Knock many seconds off your 0-60 for every passenger you add.
- low speed, crawling in traffic in 1st. It's really, really notchy. It just never seems to want to smoothly put in that first bit of power, and given I spend my life commuting on the M6, that's quite annoying (as it's mostly crawling and stationary).
- rear legroom. Is fine for short journeys, but pretty poor. Kids seats fit, BUT they will smear the backs of the seats with the crap from their feet (unless you make them only travel in your car in their socks, like I do - much to the bemusement of the missus)
- boot space. Hahahahahahaha
- dealers. They'll charge the earth to service it (so I bought the parts and did it myself).
Given the choice, I'd have another one when this one goes bang. It's due it's first MOT next week, so I'll see what that brings (but I'm not expecting much - possibly the rear drums/brakes as 60,000 miles, it's still on the originals.